BUSINESS

ICICI Bank cuts home loan rates

MUMBAI NOV. 10. ICICI Bank has reduced its floating interest rate for home loans by 0.25 to 0.5 per cent effective from tomorrow and has offered a uniform rate of 7.5 per cent for all tenors till November 26.

The revised rates for loans up to five years would be 7.5 per cent (earlier 7.75 per cent) while that for 6-20 years would be 7.75 per cent, the bank said in a release here today.

In case of 6-20 years, two brackets of 6-10 (8 per cent) and 11-20 years (8.25 per cent) have been merged. ICICI Bank has also announced 0.5 per cent reduction in its home prime lending rate. This would ensure that existing floating rate customers could also take benefit of this scheme, it added. — PTI

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